How to bank 10% without raising rents. (& make happy tenants in the process)

How is this possible? Drop your property management company. It is easier than you think. Here’s how to do it successfully.

About two months before your lease renewal, notify your current property management company that you would like to manage the property solo.

Brace yourself: The property manager has a vested interest in keeping you fearful about: ‘unspoken’ hassles of dealing with tenants, property upkeep, and needing to be ‘geographically close’ in the event of an emergency. The reality is that, except for tenant-turnover, property management is quite similar to Tesla’s autopilot feature. The majority of the time the rent check comes in, and no action is required. The 10% monthly premium you pay your management company is nearly always 100% profit.

Scenario 1 — your tenant’s renew and the property is in relatively good shape.

• Generic leases (and renewals) pdf files can be located online, at no cost. Download, edit, digitally sign and send this to your tenant’s email.
• Edit your lease so that your tenants pay directly through Zelle, PayPal or Venmo. All three are free, provide privacy to your bank account, notify you immediately upon payment, and some direct deposit into your account within seconds. Do not…